They seem to either set a fixed CL or do a bit of a floating charge account like Amex.
Does anyone have a card and what's your CL or the most you have ever had on the account?
AFAIK its always been a float. I've charged up to $2k in a month, and usually pay 90%. I leave a balance to make sure it reports. FWIW the folks at Von Maur credit are extremely friendly, and one of the only department stores left in the country that takes on their own financing (ie there's no bank to go through) And..I love the fact that there's never any interest, whether you carry a balance or not.
yes love that they back the card.
However it was not included in my ch 13 over 5 years ago but at some point during the bk I spent up over my usual so they had pulled credit and closed the account because of bk. I paid them off even though they could not send me statements and when my bk closed they re-opened but put a credit line in place... I spoke to them today and she wanted to hard TU, I told her I would call back next month because my debt would be paid off and my car refinance is at the top of my list before Von Maur. But was just kind of curious what other people have found.
they seem to be more concerned about monthly payments vs CL. I have never really paid more than minimum since no interest and I usually in past always spent enough to do 10 month club account, use to be over $300, now I believe it's over $500.
Anyway I have had up to a $350 montly payment before and that was about as high as they wanted to let me go at time.
When I filed BK7 years ago, ('99 I think) I had my lawyer draw up an agreement between myself and VonMaur, if I agreed to pay the account balance in full they would agree to keep the account open with no restrictions. They held up their end of the bargain, and I've been using my account ever since.
All Applications are Manually looked at... If you apply in store you literally watch the screen with a little back and forth sliding bar for 3-5 minutes while underwriting looks at your report... They are EXTREMELY relaxed with financing and will start you as low as $200 for 6 months and each increase until you get on a moving CL is a hard pull but they are super nice. But I have had friends with terrible credit (540 TU) apply and get approved!
Mine does not have a CL - it is just the highest I have ever used in a month (not much). And they only report to 2 of the 3 CRAs - not EX if I remember correctly
We have one of these stores coming to GA. I'd never heard of them before. It looks like it's getting close to opening - I can't wait to check it out and maybe apply for their card.
They're fancy... we have one here in Wichita at the mall but I never buy anything there because I can usually get something at JCPenney or Dillards for cheaper.